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Buyers!!! A Home Inspection is Not to Re Negotiate the Deal!!!

I tell my buyers in Tulsa, Oklahoma that the purpose of the home inspection is to find out if there is any reason they should not be buying the house. Then if something is discovered during the period of investigations and reviews, they can get out of the deal right away and move on to another house.

Home inspections will often reveal anything and everything you never wanted to know about a house so that home buyers can have a “to do” list of things to do after they move in.

The purpose of home inspections is not to get the sellers to repair all the little things before closing…. or they would have taken care of those issues prior to putting the house on the market — at a higher price.

The purpose of home inspections is not to get the sellers to bring the house up to current code.

In any event, home inspections in Tulsa reveal the condition of the house so that home buyers know what they are buying.

Buyers~A Home Inspection is Not to Re negotiate the Deal!!!

When selling /buying a home in Massachusetts, it is common practice and encouraged for the buyer to have a home inspection on a house once you have agree on price, terms and conditions, and have a signed offer to purchase.

Frequently the inspector will check the structure (foundation, ,roof, sills, etc), the mechanical(heating system, plumbing and electrical) and more. He/she will come up with a report which often highlights areas that have concern, and may need to be corrected. This list may be quite extensive, even for a new construction home. The list could include anything as minor as a small rip in the kitchen floor vinyl, to as extensive as a failing foundation.

The practice of home inspection was intended to let the buyer know what they were buying during the discovery period, and allow them the opportunity to continue forward to purchase, or give notice that they no longer want to buy. In most cases, it allows them to get out of the contract without bias, and allows them the return of their deposit.

However through the years, it has become common practice for the buyers to ask the seller to do repairs or give credit to the buyer at closing so they can fix the items.

What most buyers who are purchasing a home do not understand is that once you ask the seller to do something as a result of the home inspection, you are renegotiating the binding contract, and the seller could decide not to sell anymore. The request for repair, rejects the original offer, and introduces a new offer. The seller does not have to accept the new offer, and further more does not need to sell to the buyer anymore.

The point of this story? Buyers~home inspections are not for re negotiating the sale, it is to allow you to know what you are buying.